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  • September 2, 2014
  • Last updated: 3:44am
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  1. News - China - DRUG SMUGGLING

    Chinese police seize US$6.5 million worth of cocaine in shipping container after US tip-off

    Posted Aug 29th 2014, 04:45pm by Agence France-Presse in Beijing

    ... Police – who are cracking down on drugs as part of a wider war on excess – were tipped off about a suspect shipping container from Peru by US Drug Enforcement Administration officials, ... the cocaine. Xinhua said the haul was “the largest amount ever recovered by Chinese police in a single case in recent years”. The US street value of the drugs was more than US$6.5 million, according ...

    http://www.scmp.com/news/china/article/1581733/chinese-police-seize-us65-million-worth-cocaine-shipping-container-after
  2. Business - Banking & Finance - BANKING

    Agricultural Bank, BOC to raise up to US$29b worth of preference shares

    Posted Aug 15th 2014, 09:41am by Toh Han Shih, DON WEINLAND

    ... Toh Han Shih and Don Weinland Other banks likely to seek approval to issue shares following Agricultural Bank and BOC Mainland banks can raise US$29b in preferred stock Agricultural Bank of China and Bank of China have been cleared to raise up to US$29 billion worth of preferred stock in a sector-wide push to meet international capital-adequacy requirements. The China Banking ...

    http://www.scmp.com/business/banking-finance/article/1574123/agricultural-bank-boc-raise-140b-yuan-preference-shares
  3. News - World - IRAQ

    Car bomb attack kills 15, injures dozens at busy Baghdad intersection

    Posted Aug 26th 2014, 06:54pm by AFP

    ... Agence France-Presse in Baghdad A car bomb ripped through a crowded Baghdad intersection during morning rush hour on Tuesday, killing 15 people and wounding at least 37, security and medical officials said. The blast in Baghdad Jadida left a shallow crate ...

    http://www.scmp.com/news/world/article/1580839/car-bomb-attack-kills-15-injures-dozens-busy-baghdad-intersection
  4. Business - Companies - EQUITIES

    Sinopec Engineering loses US$1.85b contract

    Posted Aug 14th 2014, 11:21am by Eric Ng

    ... after the firm said it lost a US$1.85 billion contract. China Petrochemical is also the parent of listed oil and gas major China Petroleum & Chemical, widely known as Sinopec. Sinopec ... been made by the Kazakhstan firm, and no revenue was booked by Sinopec Engineering on the contract. The US$1.85 billion value of the contract will be deducted from Sinopec Engineering’s order ...

    http://www.scmp.com/business/companies/article/1573391/sinopec-engineering-loses-us185b-contract
  5. Property - Hong Kong & China - EARNINGS

    Evergrande Real Estate speeds up push into new businesses

    Posted Aug 26th 2014, 03:08pm by Langi Chiang

    ... steps up push into new business fields Evergrande Real Estate Group, a mass-market homebuilder on the mainland, is speeding up diversification of its business even as it outperformed the slowing ... businesses such as agriculture, animal husbandry, grains, cooking oil and even infant milk powder as part of its efforts to become one of the world's top 500 firms next year. It has also ...

    http://www.scmp.com/property/hong-kong-china/article/1580797/evergrande-confident-hitting-110b-yuan-full-year-sales
  6. Comment - Insight & Opinion

    Protecting workers' rights is good for business, in China and elsewhere

    Posted Aug 26th 2014, 12:00pm by LOWELL CHOW

    ... Lowell Chow Lowell Chow finds Chinese companies becoming more open to change Protecting workers' human rights is good for business A report this month by the Fair Labour Association ... per cent less business with its supplier Dongguan Shinyang Electronics, after child labour was found at its factory. Exposés of poor working conditions at Chinese suppliers to major brand ...

    http://www.scmp.com/comment/article/1580756/protecting-workers-rights-good-business-china-and-elsewhere
  7. News - China - Consumer

    Lowu's fake-goods sellers unfazed by US counterfeit snoops

    Posted Aug 07th 2014, 04:34am by He Huifeng

    ... He Huifeng huifeng.he@scmp.com Counterfeit goods still on sale at shopping centre, despite warning US politicians investigating property right theft were coming on 'secret' visit Business as usual at 'fakes city' It was still easy to buy a fake Louis Vuitton handbag yesterday at Lowu Commercial City, a shopping and entertainment complex on the border with Shenzhen ...

    http://www.scmp.com/news/china/article/1567914/lowus-fake-goods-sellers-unfazed-us-intellectual-property-rights-snoops
  8. Business - Economy

    US retail sales in sluggish start to quarter

    Posted Aug 14th 2014, 01:28am by BLOOM

    ... Bloomberg in Washington US retail sales in sluggish start to quarter Retail sales in the United States were little changed last month, the worst performance in six months, as car demand slowed and tepid wage growth restrained consumers. The slowdown in purchases followed a 0.2 per cent advance in June, the Department of Commerce said. Excluding cars, sales rose 0.1 per cent. Job ...

    http://www.scmp.com/business/economy/article/1573095/us-retail-sales-sluggish-start-quarter
  9. Business - Companies - SHIPBUILDING

    Cosco Shipyard wins US$470m order from Maersk

    Posted Aug 14th 2014, 01:28am by JING YANG

    ... Jing Yang jing.yang@scmp.com Cosco wins US$470m order from Maersk Maersk Supply Service, the offshore supply unit of AP Moller-Maersk Group, has ordered vessels from China for the first time in a US$470 million deal as the company seeks to revamp its fleet. Cosco Shipyard, the shipbuilding arm of China Ocean Shipping Group, won an order for four subsea supply vessels from ...

    http://www.scmp.com/business/companies/article/1573099/cosco-shipyard-wins-us470m-order-maersk
  10. Business - Companies

    ADB, 2 private-sector firms start US$400m climate-linked investment fund

    Posted Aug 05th 2014, 10:15am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com ADB joins US$400m climate venture The Asian Development Bank has entered into a Hong Kong-based joint venture with two private-sector firms to make ... Climate Partners (ACP), which they will fund initially with US$400 million. Orix is a Japanese financial services firm listed in Tokyo and New York. It is also the majority shareholder of Robeco, ...

    http://www.scmp.com/business/companies/article/1566786/adb-2-private-sector-firms-start-us400m-climate-linked-investment

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